At 9.50 AM, S&P BSE Sensex was trading 184 points or 0.44 per cent lower at 41,428.86, while broader Nifty 50 index was ruling at 12,189, down 60 points or 0.48 per cent
Domestic equity market opened on a weaker note on Monday tacking cues from their Asian peers where investors grew anxious about the economic impact of coronavirus outbreak. “The Q3 result had solid expectations but actual results are marginal below expectation for sectors like IT and Banks, leading to cautiousness in the market. We feel that this cautious trend will be maintained in the near-term since a lot has been factored in the market about budget wish list and expectation of revival in earnings growth, but the actual Q3 results being below par. Going ahead, the market direction will depend on the actual budget announcements & the performance of Q3 result,” Vinod Nair, Head of Research at Geojit Financial Services said. At 9.50 AM, S&P BSE Sensex was trading 184 points or 0.44 per cent lower at 41,428.86, while broader Nifty 50 index was ruling at 12,189, down 60 points or 0.48 per cent.
On the Sensex pack, UltraTech Cement, ICICI Bank, Mahindra and Mahindra, NTPC, Titan were the top gainers. Conversely, Tata Steel, Kotak Mahindra Bank, HDFC Bank and Hero MotoCorp were among the top laggards on the index.
Among sectoral indices, barring Nifty Pharma and Nifty Realty, all the Nifty sectoral indices were trading in red. The Nifty Bank index was trading 162 points lower at 31,079.75 dragged by weakness in Bank of Baroda, Kotak Mahindra Bank, HDFC Bank and State Bank of India.
The broader markets continued to outperform the equity benchmarks. S&P BSE MidCap index gained 43 points or 0.27 per cent to trade at 15,865, while S&P BSE SmallCap index was ruling at 14,882, up 36 points or 0.24 per cent.